The notes to the Neighborhood Ltd. financial statements reported the following data on December 31, Year 1 (end of the fiscal year): (Click the icon to view the financial statement data.) Neighborhood amortizes bond discounts using the effective-interest method and pays all interest amounts at December 31. Read the requirements. Requirement 1. Assume the market interest rate is 5% on January 1 of year 1, the date the bonds are issued. (Round your answers to the nearest whole dollar.) a. Using the PV function in Excel, what is the issue price of the bonds? The issue price of the bonds is b. What is the maturity value of the bonds? The maturity value of the bonds is c. What is Neighborhood's annual cash interest payment on the bonds? The annual cash interest payment is d. What is the carrying amount of the bonds at December 31, year 1? The carrying amount of the bonds at December 31, Year 1 is Data table Note 6. Indebtedness Bonds payable, 1% due on December 31, Year 8 Less: Discount $ 2,000,000 ? Notes payable, 7%, payable in $55,000 annual installments starting in Year 5 Print Done Requirement 2. Prepare an amortization table through December 31, Year 4 for the bonds. (Round all amounts to the nearest dollar.) How much is Neighborhood's interest expense on the bonds for the year ended December 31, Year 4? Begin by preparing the amortization table through December 31, Year 4 for the bonds. (Round your answer to the nearest whole dollar.) Neighborhood Ltd. Annual Interest Date Jan 1, Yr 1 Dec 31, Yr 1 Interest Payment Interest Expense Amortization Table Discount Amortization Discount Account Balance Bond Carrying Amount Dec 31, Yr 2 Dec 31, Yr 3 Dec 31, Yr 4 How much is Neighborhood's interest expense on the bonds for the year ended December 31, Year 4? $ 330,000 - X